Bad Credit Caravan Loans
Hit the road and soak up Australia’s sights in a new caravan. Apply today and be connected to a lender who can realise your RV dreams.
Hit the road and soak up Australia’s sights in a new caravan. Apply today and be connected to a lender who can realise your RV dreams.
Owning a caravan can be the perfect carefree way to tour Australia and see its many natural wonders. Whether you’re a nomad exploring untouched corners of the country or a family wanting to go on weekend getaways, an RV means you’re never short of accommodation.
We believe a poor credit history shouldn’t put the brakes on achieving this. By partnering with specialist lenders, our consultants can find you the most suitable loan deal. Our online processes are headache-free, meaning you can use your smartphone to apply today.
Our experienced consultants are with you every step of the way to give you the absolute best chance at approval.
We find you the best loan deal and submit your application, saving you the guesswork and uncertainty.
By partnering with a panel of flexible lenders, we can find a loan deal tailored to your financial needs.
Your government pension can form part of your assessable income if it makes up part of your earnings, which also includes other eligible payments.
There’s no need for a hefty deposit, so you can borrow the total price of your mobile home without having to worry about upfront cash.
Knocked back by a bank due to bad credit? We partner with flexible lenders who can give you a second chance at finance.
Having the option of paying over one to five years lets you choose how fast you repay your loan and ensure each instalment is comfortable for you.
Scheduling weekly, fortnightly or monthly direct debits allows your repayments to fall in line with your pay cycle.
Getting to choose between new or used caravans gives you more choice when you’re ready to buy.
You can submit a quick quote and start your application if you wish to. If you’re just after a quote, though, wait for a call from a consultant.
When you apply, your consultant uses the custom high-tech software at their fingertips to pair you with your most suitable lender.
Sit back and leave the work to your consultant. You’ll supply your supporting documents and they’ll prepare your application for the lender.
If you get the green light, your consultant will email you a digital loan agreement to sign. Once returned, your funds can be released.
There’s more to buying a recreational vehicle than just the getaways and exploring you can do in it. You’ll have to make a few crucial decisions before you take off along the open road. Some of the factors to consider include:
Budget
You should have a rough estimate of how much you can afford to borrow with a bad credit loan. Draw up a budget and see how much disposable income you have after making all your regular payments, then start looking for a mobile home in that price range. Your consultants will also ensure you don’t overreach when borrowing.
New or used
Once you have a budget in mind, you’ll need to decide whether to buy a new or used caravan. A used touring caravan will generally cost you between $10,000 and $60,000, while you can pay anywhere from $60,000 for a new van that features all the mod-cons and sleeps up to four people.
Specifications
Think about how you’ll use your caravan. That will determine the size, weight, features and style you need. Standard motorhomes come with a swath of features and mod-cons, including washing machines, kitchenettes and roll-out awnings. If you’re wanting to go on some rockier adventures, you might be better off with a purpose-built off-road model.
Hard or soft top
There are several differences between solid-walled and pop-top caravans. Pop-top caravans are lighter and easier to tow on windy roads, whereas a fixed-wall model is heavy but better insulated and protected against harsh elements.
Site fees
You’ll need a place to park at night when you’re journeying around Australia. The cost of a powered site ranges from $35 to $65. Cheaper parks charge $20 to $30 for unpowered sites.
Ongoing maintenance
Your caravan will hold its value more if you keep it in good nick. General services start from $250, depending on the van’s size and weight. Keeping a tool kit onboard will allow you to fix small issues if they arise and save you money on repairs in the long run.
Towing capacity
Ensuring your car is capable of towing your caravan will save you plenty of heartache. You’ll need to check your car’s towing capacity and the maximum tow ball weight to work out how much your car can tow. Your car manufacturer should have this information.
The less debt you have, the more you’ll be able to borrow. Reputable lenders will run credit checks on applicants, and if they see you’ve been paying off unpaid defaults or outstanding dues, they’ll be more inclined to lend you more money.
Sticking to a job will help show lenders you have surety over your income. Lenders may look at your employment history, which can indicate if you’ve had long periods of uncertainty over your work which may be cause for concern. You’ll also be able to better manage your repayments if you have a consistent income.
Making a down payment on your loan can also increase your borrowing capacity. It can also demonstrate to a lender you’re a safe pair of hands because you have a strong history of saving and being financially responsible.
Opting for a longer loan term can reduce what you’ll be regularly repaying. This can be more manageable, depending on your current income, and increase the amount you’ll be able to borrow. However, longer loan terms won’t always be an option for bad credit borrowers and will cost you more overall in interest and fees.